Skip to content
All about finance. — Stablecoin

Central Bank Digital Currencies (CBDC) may signal a 'vulnerability' or 'lack of strength', according to Treasury official Bessent.

Previously stated dismissal of necessity for CBDC within U.S. by the relevant figure.

,   and  Administrator
2 min read
Previously stated U.S. official's stance: Central Bank Digital Currency (CBDC) unnecessary in the...
Previously stated U.S. official's stance: Central Bank Digital Currency (CBDC) unnecessary in the States.

Dishin' the Latest on CBDCs in the US: a Rapid Recap

The Lowdown

Central Bank Digital Currencies (CBDC) may signal a 'vulnerability' or 'lack of strength', according to Treasury official Bessent.

As we're cruisin' towards 2025, the United States is all eyes on Central Bank Digital Currencies (CBDCs). In January, Trump flicked the off-switch on any shenanigans related to CBDCs within the country and abroad, thanks to an executive order.[4] The reasons? Fears surrounding privacy, financial system stability, and sovereignty issues associate with CBDCs.[4]

Who's Causing a Ruckus?

Enter the conservative crowd, waving their red flags about CBDCs being a government surveillance and control tool, potentially stomping on individual freedoms and privacy.[4] They're also worried about the stability of our financial system and how CBDCs might impact the mighty U.S. dollar in international transactions.[4]

Legislative Moves

On March 13, 2025, the Senate Banking Committee championed the GENIUS Act, which, while not clear on the specifics of CBDCs, does seem to hint at a more lenient digital asset regulate scene in the U.S.[2] With the overall regulatory landscape leanin' towards a more deregulated digital asset vibe, who knows, maybe CBDCs could sneak in through the back door later down the track.

Edited by James Rubin

Stick Around for the Daily Scoop Newsletter

References:

[1] https://decrypt.co/76942/us-secretary-bessent-says-central-bank-digital-currency-would-be-sign-of-weakness

[2] https://www.cnbc.com/2023/03/15/us-senate-committee-clears-bipartisan-cryptocurrency-bill-that-sanders-has-opposed.html

[3] https://www.ibTimes.com/secretary-yellen-views-crypto-asset-risks-as-systemic-threat-to-financial-stability-3895612

[4] https://www.atlanticcouncil.org/cbdc/central-bank-digital-currencies-explained/

  1. The race towards 2025 in the US is focused on Central Bank Digital Currencies (CBDCs), due in part to Trump's executive order in January halting related activities domestically and internationally, citing concerns about privacy, financial system stability, and sovereignty issues.
  2. The conservative faction has voiced concerns about CBDCs being a means of government surveillance and control, which could infringe on individual freedoms and privacy.
  3. They also worry about the potential impact of CBDCs on the stability of the financial system and the U.S. dollar's role in international transactions.
  4. On March 13, 2025, the Senate Banking Committee introduced the GENIUS Act, suggesting a more lenient digital asset regulatory environment in the US.
  5. With the general regulatory landscape leaning towards a more deregulated digital asset scene, there's a possibility that CBDCs could be introduced stealthily in the future.
  6. The U.S. Treasury Secretary, Bessent, has stated that a CBDC would symbolize a sign of weakness.
  7. Cryptocurrencies, including bitcoin and stablecoins, are viewed as systemic threats to financial stability by Secretary Yellen.
  8. The ICO market and the broader crypto, finance, business, and political landscapes are closely watching the CBDC pilot developments in the general-news sphere.

Read also:

    Related

    Latest